For over a year now we’ve been internally discussing about releasing a “Property Analyzer” software product to compliment our core LandlordMax Property Management Software. This Property Analyzer software would help you analyze real estate properties before you purchase them rather than manage them like LandlordMax. The main idea is that you could enter in information about a real estate property and try many different scenarios in seconds to see if a property’s numbers worked for you.
To give a quick and simple example, you could see if the real estate property you’re interested in purchasing for $200k (or $220k, $230k, etc.) at an interest rate of 5.6% for 10 years (or 4.8% for 5 years, etc.) with a rent of $1000/month (or $950/month, etc.) would be cash flow positive assuming a vacancy rate of 3% (5%, etc.), and so on. Basically you could run through a number of different scenarios in seconds to determine if that property will work for you, if it it will make you money and how (cash flow, capital appreciation, etc.).
However before we break the ground and start implementing this potentially new product, I’d really like to hear from you about it. Would you be interested in a “Property Analyzer” software product from LandlordMax? And if so, what features would like to have in it? Which features absolutely have to be in it? Let me know what you think.
I look forward to all your comments.